Enacts the "bank of New York city act" to establish a municipal public bank in cities with a population of a million or more.

The bill, known as the "bank of New York city act," allows cities with a population of one million or more to establish a municipal public bank. This bank can be a not-for-profit corporation, a limited liability company, or a business corporation. It is governed by a board of directors composed of nine voting members, including the chief executive officer of the sponsoring city, the legislative body of the city, a citywide elected official, and the chief fiscal officer of the city.

Enacts the "bank of New York city act" to establish a municipal public bank in cities with a population of a million or more.

The bill, known as the "bank of New York city act," allows cities with a population of one million or more to establish a municipal public bank. This bank can be a not-for-profit corporation, a limited liability company, or a business corporation. It is governed by a board of directors composed of nine voting members, including the chief executive officer of the sponsoring city, the legislative body of the city, a citywide elected official, and the chief fiscal officer of the city.